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NAI EARLE FURMAN

marketing plan

INDUSTRIAL kevin eaves

division


marketing plan

project summary The NAI Earle Furman industrial division needs an effective marketing plan to promote the division and sell/lease more property. The division has 15 brokers and the roots of the company are in the industrial market. In 1986, J. Earle Furman founded the company with a background and specialization in industrial real estate, so the company has a strong background in the industry. The firm needs to reach industrial users who are not currently in the market and educate them on the benefits of the Upstate market and NAI Earle Furman. The company needs to establish itself as the Upstate leader in industrial real estate and the go-to firm for all manufacturing companies looking for industrial space. The 15 industrial brokers in the firm need to be the Upstate’s leaders in industrial real estate. They should be visible and active in the community and leaders in the industrial market. NAI Earle needs to implement new, effective marketing tactics to communicate with prospective industrial clients. Through tactics such as a full-color brochure and video, the company can more effectively market its industrial services. In addition, the industrial page of the web site could be updated with property case studies, video and testimonials. Throughout this plan, it will be crucial to evaluate what is working and what is not and adjust the marketing tactics. When implementing the new marketing tactics, we will need constant feedback from the brokers and our target market on the effectiveness of this marketing plan.

Situation Analysis Founded in 1986 by J. Earle Furman, the roots of the company are in industrial real estate. There is no reason why NAI Earle Furman should not be considered the authority by everyone in the industrial real estate market in Upstate South Carolina. Also, the strength of the NAI Earle Furman Industrial team needs to be marketed more effectively. We need to communicate the combined experience, expertise and integrity of the entire industrial team. One of the ways we can communicate this is through an industrial division brochure. Additional industrial division details:

- the largest industrial market share in the Upstate - in 2011 & 2012, completed $95 million in total sales and leasing totaling over 7.4 million sf - the most SIOR members per office in South Carolina - NAI membership gives access to over 5,000 professionals in 325 global offices - team has strong relationships with local economic development leaders - sometimes the properties, which include warehouses, can be a challenge to market, photo graph and film. - in researching the NAI Earle Furman industrial division, it seems as if the company is an authority in the Upstate. this fact just needs to be more effectively communicated within the Upstate and to incoming manufacturing and industrial clients. - the costs of the marketing tactics can be reduced because a web site is in place, ads are currently running and the company brand is strong and active.

NAI Earle industrial


marketing plan

market data Market Trends In reading market reports from industry publications, it seems as if the booming segments of this industry are manufacturing and technology. Through digital technologies and creative marketing, we need to find ways to communicate to these segments. In addition, one potential challenge is the trending lack of quality industrial buildings in the Upstate in 2013. The effects of the recession left the Upstate with a higher vacancy rate than the rest of the country, and the industrial market has changed drastically since the recession. In short, the industrial market in the Upstate is improving, and NAI Earle Furman needs to be at the forefront of the industry in 2013. This needs to be communicated throughout the Upstate and beyond as we seek to continue to lead the industry. With the “green� movements and rise of start-up tech companies, the way companies do business is changing, and the NAI Earle Furman industrial division needs to be constantly monitoring these changes and adjusting to meet the needs of the market.

Market Growth The Upstate market continues to grow steadily with recent announcements by both the SC Ports Authority and the Greenville Spartanburg International Airport. These developments should help bolster the opportunity for continued growth of the market. In past few years companies with offshore manufacturing operations have been re-evaluating these locations due to logistics cost, stable labor and government, product quality etc. The Upstate continues to secure large, influential transactions such as the Amazon distribution facility in Spartanburg. 1 million sq. ft facility. Hopefully, these transactions will continue to fuel the market in 2013 and attract more and more industrial business to our community.

Competition CBRE | The Furman Co. is one of the main competitors in the Upstate. The firm offers commercial real estate brokerage (in the areas of office, industrial, retail and investment properties), property and facilities management, supported by proprietary market research and extensive local market expertise. An affiliate of CBRE, the Furman Co. is known throughout the area for its research skills as well as its access to CBRE global network, which is the largest in the world. Other competitors include:

- Prudential C. Dan Joyner Co. REALTORS - KDS Commercial Properties - Langston-Black Real Estate


marketing plan

target market Target Market Summary This is a challenging target market, because industrial business owners come from all backgrounds, ethnicity and industries. Brokers need to be open to the changing faces of this industry and look for new ways to communicate to these audiences. Below is a guide for determining to these audiences. However, throughout the implementation of this plan, we can learn more and more about this target market and how to communicate more effectively to them.

Target Demographics - owners and leaders of manufacturing businesses - manufacturing companies relocating to the Upstate - business leaders that see value in the Upstate community - people that already consider the Upstate an attractive place to conduct business. - readers of publications such as the wall street journal, gsa business, the Economist - some of their favorite sports include golf, tennis, cycling, college football - enjoy food, travel and dining out - earn in excess of six figures per year - ages 30 - 70, male and female business owners - highly motivated, dedicated, driven and charismatic - various education levels, college, MBA or no college at all - family-owned businesses

Secondary Target Markets - small business owners with start-up creative companies such as breweries - younger business owners that use industrial spaces in creative or artistic ways - entrepreneurs that started small businesses and now need more space to stock products and conduct business - technology companies that need industrial space - those who did not attend college, self-made business owners - small businesses and creative communities moving in to the Upstate area - new businesses such as Crossfit gyms that use industrial space in different ways

NAI Earle industrial


marketing plan

swot analysis Strengths Roots of the company are in industrial real estate. Founder, J. Earle Furman, is well known in the community and started out in industrial real estate. We have 15 experienced and qualified brokers dedicated to industrial real estate. The Upstate manufacturing industry is getting stronger and stronger and is projected to strengthen in 2013. The company has the resources to be the Upstate leader in industrial real estate. The global affiliation with NAI is benefical and provides credibility as well as a global network of 5,000 professionals.

Weaknesses Lack of quality industrial buildings in the Upstate. Effects of the recession left the Upstate with a higher vacancy rate than the rest of the country. Market has changed drastically since the recession. Difficulty in justifying lease rates. Tenants will have to unjust to new lease rates or growth in the market will stop. Some of the industrial properties are not that aesthetically attractive and marketable. The company web site does not feature enough information about the industrial division.

Opportunities Upstate is becoming a hotbed for industrial real estate, and the area’s manufacturing community is strong and growing. Recent announcements by both the SC Ports Authority and the Greenville Spartanburg International Airport should help bolster the opportunity for continued growth of the market. In past few years companies with offshore manufacturing operations have been re-evaluating these locations due to logistics cost, stable labor and government, product quality etc. There is an active manufacturing community in the Upstate that provides many networking opportunities. Through digital technology and video, we can market the division and its properties more effectively on our web site.

Threats There is a lack of space, so buildings will expand rather than relocate. Some sources believe market challenges could create public private partnerships, speculative construction or build to suit projects. Many industrial users are looking to downsize due to economic concerns and reduce expenses. The “green� or environmental movement has business owners looking for properties with these specific qualifications.


marketing plan

what, why & how? Goals Increase traffic on the industrial division website by 25 percent. Give the brokers in the industrial division five new, effective marketing tactics to use. Host an industrial division seminar or educational event each month at NAI Earle Furman. Get NAI Earle Furman industrial brokers quoted in 10 stories in Upstate business publications. Establish a database of 100 contacts within the manufacturing industry. Objectives Establish NAI Earle Furman as an authority and leader in the Industrial property industry. Strengthen the NAI Earle Furman industrial division’s brand through new marketing tactics. Communicate more effectively with leaders in the Update manufacturing community. Increase web traffic to the industrial division web page. Increase visibility of the properties through video presentations. Strategies The NAI Earle Furman brand is strong in the Upstate, so the firm can position itself as the authority in Upstate industrial real estate. The main goal of this plan is to increase awareness of the NAI Earle Furman industrial division. In our marketing messages, we will communicate that NAI Earle Furman is the leader and authority in Upstate industrial real estate. We don’t have spend the money to build a new web site for the division, but just add content to the industrial division page. In regards to advertising, we can save money be simply updating the content of current ads running, rather than buy new ad space.

Tactics 1. ad series 2. industrial division brochure 3. industrial division & property videos 4. host industry events & seminars 5. industrial division web site updates 6. public relations 7. infographics & case studies Measurement Hold a focus group to gage how much Upstate commercial brokers know about the NAI Earle Furman industrial division. Survey industrial real estate buyers to find out how they made buying division. Find out which marketing initiatives communicated to them. At industrial real estate events, ask attendees to fill out survey that tests their knowledge of the NAI Earle Industrial division. Use google analytics to measure web site traffic to the industrial division page.

NAI Earle industrial


marketing plan

marketing tactics 1. ad series 2. industrial division brochure 3. industrial division & property videos 4. host industry events & seminars 5. industrial division web site updates 6. public relations 7. infographics & case studies To strengthen the brand of the NAI Earle Furman industrial division, this plan features several main marketing initiatives that include an ad series, videos, a brochure, events and case studies. This marketing blend will give the division and its brokers fresh, new marketing options to help them sell more industrial real estate and attract new buyers. 1. NAI Earle Industrial Ad Series The marketing department will create ads that feature close-up shots of industrial parts and short, compelling copy about our industrial division. NAI Earle Furman already has ads running in the Upstate Business Journal, so the ads would just need to be updated. No new ad space would need to be purchased. The ads would be rotated for four weeks. The company also has ads space in the GSA business morning blend email. This ad could feature a link to the new industrial video on the web site. These ads will re-inforce the message that NAI Earle Furman is the Upstate Leader and Authority in Industrial Property.

Ad No. 1

Providing for Upstate Manufacturers Since 1986. INDUSTRIAL real estate


marketing plan

Ad No. 2

The authority in industrial property since 1986. INDUSTRIAL real estate

Ad No. 3

Helping Upstate Industrial Clients Since 1986. INDUSTRIAL real estate

Ad No. 4

The Upstate’s Industrial Leader Since 1986. INDUSTRIAL real estate

NAI Earle industrial


marketing plan

2. Industrial division corporate brochure To tell the story of NAI Earle Industrial and feature the industrial division team, create a full-color brochure to allow our 15 brokers to more effectively market the division to prospective buyers. This will give brokers a high quality piece they can leave with potential buyers or present face-to-face. An online flip book will also be created for brokers to email to buyers, and it will also be featured on the industrial division web page.

INDUSTRIAL

division

Solid proven results since 1986.


marketing plan

history Omnihil intinve llaceptam quiam, qui blam quat vollorum fugitin verecatem cus si que nectotatibea nos et utem volenis dest dolores sumquam, cumquae natur? Quiaturit plit dolut et dolumquatur, unt preptat aligenda volorem doluptatur?Onseque qui aliquo ea cori dus et od quamus sinihil ium delestrum quamusa ndandaerem volupta con cum autenetur aut dolupicat. Hillissequam rem sum voluptat. Rum ilicius ent omnis saniendandit fugiandae ium at que reiusaperunt es et facia dollaci psaniam laccus quia est quis arum quo volenis cietum dios imped ende volupta tatium harci dolorit atustis moluptatus, iur? Mi, quossin eiciis que doluptiur a nat laudiatur, aut eum nemque nobit re cuptat voluptur rest, incimilit in nus eost ea vidipicia se parum reiusdam iliandit quam fugitia que omnim fuga. Temoluptae cus autem archillaut aut dolupta doluptiamus.

brochure p. 1-2

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team

brokers

j. earle furman, chairman & broker-in-charge De mo officid ut at. Atur mi, et quiderro mosa nist, occat utem a quam, omnit, nonectat reiunt aborepelent laccum sinusci aectus, si reni con nos eos es nonempos et et rest, simagniendis doles magnatatur? Qui consedi odia iniminu llestibus.Otatiis coreius erio. Porerum sus eatempos doluptatia cusam

industrial

grice hunt

ford borders, principal & broker

brochure p. 3-4

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john baldwin

tim roller

towers rice

alex papapieris

glenn batson

thomas daniel

john powell

john staunton

ken anderson

jonathan good, ceo De mo officid ut at. Atur mi, et quiderro mosa nist, occat utem a quam, omnit, nonectat reiunt aborepelent laccum sinusci aectus, si reni con nos eos es nonempos et et rest, simagniendis doles magnatatur? Qui consedi odia iniminu llestibus.Otatiis coreius erio. Porerum sus eatempos doluptatia cusam

hunter garrett, principal & broker De mo officid ut at. Atur mi, et quiderro mosa nist, occat utem a quam, omnit, nonectat reiunt aborepelent laccum sinusci aectus, si reni con nos eos es nonempos et et rest, simagniendis doles magnatatur? Qui consedi odia iniminu llestibus.Otatiis coreius erio. Porerum sus eatempos doluptatia cusam

services Omnihil intinve llaceptam quiam, qui blam quat vollorum fugitin verecatem cus si que nectotatibea nos et utem volenis dest dolores sumquam, cumquae natur? Quiaturit plit dolut et dolumquatur, unt preptat aligenda volorem doluptatur?Onseque qui aliquo ea cori dus et od quamus sinihil ium delestrum quamusa ndandaerem volupta con cum autenetur aut dolupicat. Hillissequam rem sum voluptat. Rum ilicius ent omnis saniendandit fugiandae ium at que reiusaperunt es et facia dollaci psaniam laccus quia est quis arum quo volenis cietum dios imped ende volupta tatium harci dolorit atustis moluptatus, iur? Mi, quossin eiciis que doluptiur a nat laudiatur, aut eum nemque nobit re cuptat voluptur rest, incimilit in nus eost ea vidipicia se parum reiusdam iliandit quam fugitia que omnim fuga. Temoluptae cus autem archillaut aut dolupta doluptiamus.

brochure p. 4-5

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NAI Earle industrial


marketing plan

3.Industrial Division and Property Videos Develop a professionally produced corporate video that showcases the NAI Earle Furman industrial division. Create property videos using iphone and imovie app. Brokers can email videos to clients or show in face-to-face meetings. Videos can also be displayed on the NAI Earle Furman website. Upload videos to facebook and twitter pages.

4. Industrial Real Estate Educational Events Hold monthly events at NAI Earle Furman that educate the local commercial real estate community on market trends, news, advice, help topics and other useful information. The events will strengthen relationships between commercial brokers and establish NAI Earle Furman as an authority in the Upstate market.

5. Industrial Division Web Site Updates Update the industrial division page of the web site to include video, case studies and infographics. To save money, do not create a separate web site similar to the healthcare division. Add content to the industrial page on the NAI Earle Furman web site to give brokers resources to educate potential buyers on services and promote the division. Make the page more interactive and attractive with new, useful content.

6. Public Relations Monitor upstate business publication’s editorial calendars. Call and pitch a new industrial-related story each month. Send contact info of brokers to each publication. Establish the industrial brokers as authorities and sources for industrial real estate articles and coverage in the Upstate Monitor GSA business and the Upstate Business Journal to see which businesses are opening and coming to the Upsate community Constantly build a database of industrial real estate contacts we can market our services to.

7. Infographics & Case Studies Create case studies for successful industrial real estate transactions. Case studies will feature properties that tell a distinct story and show how the NAI Earle Furman team is different than the competition.


marketing plan

Infographics Create infographics for industry information and Upstate industrial real estate statistics.

INDUSTRIAL division

100 90

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NAI Earle industrial


marketing plan

Infographics

INDUSTRIAL division

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5,000,000

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marketing plan

timeline The tactics for this plan can be implemented immediately and continue throughout 2013. To evaluate the plan’s effectiveness, the marketing tactics will be reviewed at the end of the time period through surveys, meetings and discussions by the marketing department.

1. ad series update the content of the ads to include industrial ad series. 2. industrial division brochure marketing department can begin design on the brochure and get printing quotes. 3. industrial division & property videos begin contacting local video production companies and securing quotes. 4. host industry events & seminars these events will be held each month.

create calendar of events and begin planning topics and participants.

5. industrial division web site updates marketing department updates page as projects are completed. 6. public relations

research the Upstate editorial calendars. develop story topics and begin contacting publications.

7. infographics & case studies

research market information and begin design of infographics and case studies.

NAI Earle industrial


marketing plan

budget 1. ad series ads are already running in Upstate Business Journal and GSA morning blend, so no

additional cost. content just need to be redesigned by marketing department.

2. industrial division brochure stock photography = $200

printing of brochures = $2,000

3. industrial division & property videos development of professional video = approximately $5,000 4. host industry events & seminars

catered lunch for the each event = approximately $500 ea

5. industrial division web site updates no additional cost

marketing department just needs to update the site

6. public relations

no additional cost completed by marketing department

7. infographics & case studies

may be some cost to purchase stock graphics = $100 completed by marketing department

NAI Earle Furman Industrial Plan  

by Kevin Eaves 2013

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